EN#0381 – Canadian MSB, non-operational, regulated by FINTRAC, for sale

An opportunity to acquire a Canadian Money Services Business (MSB) registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), with a business model covering foreign exchange, crypto-assets, money transfers and payment services. The entity is active from a corporate and regulatory perspective but has not yet commenced commercial operations.

Key Highlights:

• License and Permissions: The company is registered with FINTRAC as an MSB with the following services:

• • Foreign Exchange
  • Money Transferring
  • Issuing and Redeeming Money Orders
  • Virtual Currency
  • Payment Service Provider (PSP)
  • Cheque Cashing

• Operational Status: The entity is active but not currently operational, providing the purchaser with an existing regulated corporate structure through which to establish and develop the intended business activities.
• Regulatory Standing and Compliance: There are no known issues with the regulator. AML/KYC, compliance and risk-management policies are already in place.
• Banking and Financial Position: No client-funds bank account is currently maintained. The company has no known debt or other financial liabilities.
• Regulatory Capital: There is no fixed minimum regulatory capital requirement applicable to the entity. Approximately CAD 10k is currently reflected as capital in the company’s records.
• Operating Costs: Annual operating expenses are approximately CAD 1k, providing a relatively low-cost existing corporate and regulatory structure.

This Canadian MSB represents an opportunity for buyers seeking an existing regulated structure with no known regulatory issues or debt, and compliance documentation already in place. Its current non-operational status allows a purchaser to implement its own technology, banking, commercial, and operational arrangements in accordance with its intended business model.

For further information on the sale of this Canadian MSB, please contact our Mergers & Acquisitions team at at info@salvusfunds.com. More entities for sale can be found within our Entity Acquisition or Sale page.

SALVUS Funds’ teams can be engaged for guidance on new license authorizations for investment, payment or crypto-asset services, ongoing regulatory compliance consultancy for regulated entities, and support in acquiring ready-made regulated or registered entities. 

#StayAhead